In addition, the number of companies offering financial planning benefits to executives continues to rise. Nearly 45% of companies offered this benefit in 2011.
Plan participation remained steady at 46.4% of the eligible population, with the highest levels of participation (58%) seen in plans that both offer a company match and are informally funded.
For the first time, respondents were asked to describe their criteria for determining plan eligibility. The question was asked to find out whether a strong prevalence exists for tying eligibility to compensation, title, job grade or some combination of all three. While sponsors’ responses varied according to their distinct corporate philosophies, title (24.6%) and job grade (23%) emerged as the most prevalent criteria for determining eligibility.
Also new to the survey, respondents were asked whether or not they were considering any changes to their NQDCP. The vast majority (87%) reported they are not planning to make changes in 2012. Additions or enhancements in distribution and investment options were the top priorities for sponsors who are considering plan changes in the coming year.